Another Apple analyst claims cheaper iPhones a 'lock' for release this year

According to Topeka Capital analyst Brian White, the oft-rumored lower cost iPhones are a "lock" for release this year.

White has been speaking with all suppliers he can in Asia for the last two weeks, picking up any news and gossip he can.

Reads the client note: "Yes, A Lower-Priced iPhone is in the Works and Expected This July. At the China trade show, we had the opportunity to interact with various suppliers and vendors, including those working with Apple. Our general takeaway around Apple is that a lower-priced iPhone and the iPhone 5S will be announced together in June and launched in July."

The phone is expected to have the same 4-inch screen of the iPhone 5, but with cheaper curved plastic hardware that will come in different colorways, similar to the recent generation iPod Touch.

White also says he expects the phone to sell unlocked for $400, compared to $600 or higher for the iPhone 5 (and the upcoming 5S).

The analyst infamously gave Apple shares a $1100 target when they were trading above $600. They have since fallen to $425.